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5.64/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • $10
Trading platform:
  • MT4
  • MT5
Regulation:
  • FSCA
Foundation date:
  • 2020
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Our Evaluation of IFX Brokers

5.64/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Traders Union icon

IFX Brokers is a moderate-risk broker with the TU Overall Score of 5.64 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by IFX Brokers clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.

IFX Brokers is suitable for starting on Forex, as well as for permanent trading with floating spreads and market execution. The regulator’s license confirms its reliability. The choice of assets and account types is aimed at satisfying the needs of any trader.

Brief Look at IFX Brokers

IFX Brokers is a Forex broker that offers trading cryptocurrencies, metals, and CFDs on indices and commodities. The company was registered in South Africa in 2018. It is licensed by FSCA (Financial Services Conduct Authority). IFX Brokers provides services to traders from 180 countries and offers a wide range of trading accounts with varying conditions, high leverage, and access to mobile and desktop MetaTrader platforms.

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Advantages of trading with IFX Brokers:
  • Minimum deposit is $10 or its equivalent;
  • This broker is licensed by the South African regulator;
  • Large choice of account types;
  • Leverage is up to 1:1000 for retail and professional traders;
  • 60 currency pairs are available;
  • Account currencies are USD, EUR, GBP, and ZAR;
  • Any trading strategy (except for arbitrage in any form) is allowed.
Disadvantages of IFX Brokers:
  • Spreads are higher than those of other Forex brokers;
  • No educational materials, market reviews, analytics, or trading calculators on the website;
  • Contacting support in live chat and instant messengers is not available.

TU Expert Advice

Anton Kharitonov

Financial expert and analyst at Traders Union

This broker offers account types for novice and experienced traders and professionals. Cent and Standard accounts allow you to trade with a small margin on spread but without additional fees. They provide access to various bonuses that IFX Brokers offers from time to time. The company also has a permanent bonus program that provides 50% of each deposit. Only the Standard account can participate in it. For experienced traders who trade on Premium and VIP accounts, bonuses are not available.

Since IFX Brokers is registered in South Africa, deposits and withdrawals are made in ZAR. This can be considered a disadvantage for clients from other countries, as they face additional costs when converting rands into other currencies. This broker does not charge fees for depositing and withdrawing funds, as well as transferring money to different accounts within the same user account.

Among the disadvantages are a lack of full-fledged training, up-to-date analytics, and live chat for prompt communication with support. IFX Brokers’ clients are not allowed to trade CFDs on stocks. Moreover, the choice of assets for MT5 users is limited. This broker offers only 5 cryptocurrencies and not the most popular ones. However, the choice of currency pairs is quite diverse, so the Forex specialization is obvious.

IFX Brokers Trading Conditions

💻 Trading platform: МТ4 and МТ5
📊 Accounts: Demo MT4, Demo MT5, Cent, Standard, Premium, VIP, and Islamic
💰 Account currency: USD, EUR, GBP, and ZAR
💵 Deposit / Withdrawal: OZOW, Payfast, Mastercard and Visa (via Payfast), wire transfer, Skrill, Neteller, Bitcoin, Ethereum, Tether, and Ripple
🚀 Minimum deposit: $10
⚖️ Leverage: Up to 1:1000
💼 PAMM-accounts: No
📈️ Min Order: 0.01
💱 EUR/USD spread: pips
🔧 Instruments: Forex, metals, indices, commodities, and cryptocurrencies
💹 Margin Call / Stop Out: Cent, Standard, and Islamic — 50%/30%; Premium — 60%/20%; and VIP — 40%/10%
🏛 Liquidity provider: Over-the-counter (OTC) providers
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Order execution: Market execution
⭐ Trading features: Trading conditions are suitable for all strategies
🎁 Contests and bonuses: Deposit bonuses

IFX Brokers provides access to trading more than 200 financial instruments on MetaTrader platforms. The maximum trading leverage for the Cent account is 1:1000, and for the others, it is 1:500. All account types except Cent can be opened in USD, EUR, GBP, and ZAR. The Cent account currency is in U.S. cents. This broker offers market execution. Bonuses are available to holders of Cent, Standard, and Islamic accounts, but deposit bonuses are only available on Standard.

IFX Brokers Key Parameters Evaluation

User Satisfaction i

Score:
4/10

Share your experience

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billtesy
1 year ago

I like that IFX Brokers offers 100% accurate quotes on all account types. Order execution is standard. There are some problems, but where do they not exist?

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Becka
1 year ago

I found out about IFX Brokers recently. They talk well, but I wanted to know where I was investing my money, especially since I sent them my data in full. I asked for their documents, and then it started. They were unable to provide them. This immediately is thought-provoking, isn’t it?)))

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Beverlydela
1 year ago

Now there are many brokers about which nothing is known at all. Such brokers include ifxbrokers.com. There is no proper regulation here, so the trader's deposit is not insured against the company's manipulations. The broker ifxbrokers.com offers leverage from 1:1 to 1:1000. Also, all deposit currencies are automatically converted to ZAR. Perhaps, for traders from South Africa, the company will be okay. But for traders from other countries, it's better to look for a more reliable broker.

Score:
5.42/10

Trading Account Opening

Registration of a user account on the IFX Brokers website is a standard procedure that takes no more than 10 minutes. The registration steps are as follows:

1

Click the “Start Trading” button on this broker’s website.

Review of IFX Brokers’ User Account — Registration
Review of IFX Brokers’ User Account — Registration
Review of IFX Brokers’ User Account — Registration
Review of IFX Brokers’ User Account — Registration
2

Enter your personal information, phone number, and email address. Also, specify your country of residence, create a password, and select the wallet currency for your IFX Brokers’ user account. Then follow the link that will come to the email specified during registration to confirm it.

3

Features of IFX Brokers’ user account:

1. Open a demo or trading account after submitting the required documents:
Review of IFX Brokers’ User Account — Open a new account
Review of IFX Brokers’ User Account — Open a new account
2. Deposit funds to the wallet:
Review of IFX Brokers’ User Account — Fund the account
Review of IFX Brokers’ User Account — Fund the account

1. Open a demo or trading account after submitting the required documents:
Review of IFX Brokers’ User Account — Open a new account
Review of IFX Brokers’ User Account — Open a new account
2. Deposit funds to the wallet:
Review of IFX Brokers’ User Account — Fund the account
Review of IFX Brokers’ User Account — Fund the account

Additional features of the user account:

  • Real-time transfer of funds from a wallet to trading accounts and vice versa;

  • Ticket system for instant support;

  • Useful tools, such as economic calendar, market review, and trading platform installation files;

  • Change the leverage;

  • User account history: free/used margin on current positions, balance and equity, and reports on withdrawals and deposits;

  • Edit personal data.

Score:
We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria
6.3/10

Regulation and safety

IFX Brokers has a safety score of 6.3/10, which corresponds to a Medium security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

Advantages
  • Is regulated
  • Negative balance protection
Disadvantages
  • Not tier-1 regulated
  • Track record of less than 8 years

IFX Brokers Regulators and Investor Protection

Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level
FSCA SA FSCA SA Financial Sector Conduct Authority of South Africa South Africa No specific fund Tier-2

IFX Brokers Security Factors

Foundation date 2020
Negative balance protection Yes
Verification (KYC) Yes
Score:
We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria
8/10

Commissions and fees

The trading and non-trading commissions of broker IFX Brokers have been analyzed and rated as Low with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.

Advantages
  • Low Forex trading fees
  • Tight EUR/USD market spread
  • No inactivity fee
  • No deposit fee
  • No withdrawal fee
Disadvantages
  • Complex fee structure

Trading Fees and Spread

Below, we evaluated and compared the trading commissions of IFX Brokers with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

Standard Account Spread

For Standard accounts, IFX Brokers’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

IFX Brokers Standard spreads

IFX Brokers Pepperstone OANDA
EUR/USD min, pips 0,5 0,5 0,1
EUR/USD max, pips 1,1 1,5 0,5
GPB/USD min, pips 0,5 0,4 0,1
GPB/USD max, pips 1,6 1,4 0,5

RAW/ECN Account Commission And Spread

The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.

IFX Brokers RAW/ECN spreads

IFX Brokers Pepperstone OANDA
Commission ($ per lot) 3 3,5
EUR/USD avg spread 0,1 0,15
GBP/USD avg spread 0,15 0,2

Non-Trading Fees

We conducted a detailed analysis of the non-trading fees associated with IFX Brokers. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

IFX Brokers Non-Trading Fees

IFX Brokers Pepperstone OANDA
Deposit fee, % 0 0 0
Withdrawal fee, % 0 0 0
Withdrawal fee, USD 0 0 0-15
Inactivity fee ($, per month) 0 0 0
Score:
4.62/10

Account types

IFX Brokers offers 5 live account types. The Cent account can only be opened in MT5; whereas, others can be opened both in MT5 and MT4. Accounts differ in deposit, leverage, spreads, and trading fees. Each user account can have one account of each type in 4 currencies.

Account types:

Account Type
Description
Cent
The minimum deposit is $10, floating spreads are from 1.6 pips, and no additional fees;
Standard
The minimum deposit is $10, spreads are from 1.3 pips, and no fee per lot;
Premium
The minimum deposit is $250, spreads are from 1 pips, and no fees;
VIP
It is an account for experienced traders. The minimum deposit is $1,000, spreads are from 0.5 pips, and a $6 fee per lot;
Islamic
It is similar to the Standard account but without swaps.

If traders are not ready to invest real money in Forex and want to practice trading with virtual funds, they can open a demo account.

Each IFX Brokers’ client can have up to 36 trading accounts in different currencies and platforms, which provides for effectively using each of them for specific strategies and purposes. Leverage is dynamic, which helps traders reduce or increase risks, and hence their potential profit.

Score:
This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology
6.65/10

Deposit and withdrawal

IFX Brokers received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.

IFX Brokers provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.

Advantages
  • Bank wire transfers available
  • BTC available as a base account currency
  • Bank card deposits and withdrawals
  • USDT (Tether) supported
Disadvantages
  • PayPal not supported
  • Wise not supported
  • Only major base currencies available

What are IFX Brokers deposit and withdrawal options?

IFX Brokers provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.

IFX Brokers Deposit and Withdrawal Methods vs Competitors

IFX Brokers Plus500 Pepperstone
Bank Wire Yes Yes Yes
Bank card Yes Yes Yes
PayPal No Yes Yes
Wise No No No
BTC Yes No No

What are IFX Brokers base account currencies?

A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. IFX Brokers supports the following base account currencies:

What are IFX Brokers's minimum deposit and withdrawal amounts?

The minimum deposit on IFX Brokers is $10, while the minimum withdrawal amount is $50 ZAR. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact IFX Brokers’s support team.

Score:
The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change.
6.25/10

Markets and tradable assets

IFX Brokers offers a limited selection of trading assets compared to the market average. The platform supports 200 assets in total, including 55 Forex pairs.

Advantages
  • Crypto trading
  • 55 supported currency pairs
  • Copy trading platform
Disadvantages
  • Futures not available
  • No ETFs

Supported markets vs top competitors

We have compared the range of assets and markets supported by IFX Brokers with its competitors, making it easier for you to find the perfect fit.

IFX Brokers Plus500 Pepperstone
Currency pairs 55 60 90
Total tradable assets 200 2800 1200
Stocks Yes Yes Yes
Commodity futures Yes Yes Yes
Crypto Yes Yes Yes
Stock indices Yes Yes Yes
Options No Yes No

Investment options

We also explored the trading assets and products IFX Brokers offers for beginner traders and investors who prefer not to engage in active trading.

IFX Brokers Plus500 Pepperstone
Bonds No No No
ETFs No Yes Yes
Copy trading Yes No Yes
PAMM investing No No Yes
Managed accounts No No No
Score:
4.67/10

Customer support

Information

Technical support is available 24/5. Communication is possible in 30 languages.

Advantages

  • Technical support is multilingual
  • Quick responses to tickets in the user account

Disadvantages

  • No live chat on the website and in the user account
  • Contacting the company via instant messengers and social networks is not available

To contact IFX Brokers, use the following channels:

  • phone (a single number is indicated in the Contact section of the website);

  • email;

  • tickets in the user account.

Contacts

Foundation date 2020
Registration address IFX Brokers Holdings (Pty) Ltd, 79 Da Gama Road, Jeffreys Bay, South Africa
Regulation FSCA
Official site https://ifxbrokers.com/
Contacts
+27 87 944 7273
Score:
5.11/10

Education

Information

To discover the basics of the Forex market, the company offers the FAQs section. It cannot be considered a full-fledged teaching tool, since each question comprises only a few sentences. In general, the IFX Brokers website is not designed for in-depth study.

Information available with IFX Brokers
Information not available on the IFX Brokers website
What does STP stand for?
Types of market analyses and the basis for their interpretation
Spreads and swaps as basic Forex fees
Rules for reading charts and working with time frames
How do margin call and stop out work?
Guides on setting up and using trading platforms
Difference between short and long position
The psychology of trading and emotion management
What is a take-profit order?
How not to lose all your money at the start
What is a drawdown in Forex?
Tips for novice traders in developing a trading strategy

To learn to trade, it is necessary to incorporate theory and practice. A demo account is great for practicing in the real market without losing money.

Comparison of IFX Brokers with other Brokers

IFX Brokers Bybit Eightcap XM Group Pocket Option FxPro
Trading
platform
MT4, MT5 MetaTrader5 MT4, MT5, TradingView MT4, MT5, MobileTrading, XM App Pocket Option, MT5, MT4 MT4, MobileTrading, MT5, cTrader, FxPro Edge
Min deposit $10 No $100 $5 $5 $100
Leverage From 1:1
to 1:1000
From 1:1
to 1:500
From 1:30
to 1:500
From 1:1
to 1:30
From 1:1
to 1:1000
From 1:1
to 1:500
Trust management No No No No No No
Accrual of % on the balance No No No No No No
Spread From 1.3 point From 0 points From 0 points From 0.8 points From 1.2 point From 0 points
Level of margin call
/ stop out
50%  /  30% No  /  50% 80%  /  50% 100%  /  50% 30%  /  50% 25%  /  20%
Order Execution Market Execution Market Execution Market Execution Market Execution Market Execution Market Execution
No deposit bonus No No No No No No
Cent accounts No No No No No No

Detailed review of IFX Brokers

IFX Brokers is a full-fledged STP broker that offers profitable conditions to traders using any trading style. Its clients are scalpers, traders who trade news, and those who use Swing Trading or Day Trading strategies. Direct STP processing means that all client trades are directly transferred to multiple verified OTC liquidity providers. IFX Brokers’ trading servers are linked to the Equinix data center in London, which minimizes execution delays.

IFX Brokers by the numbers:

  • Approximately 99% of orders placed by clients are executed at the requested price;

  • 5+ years of experience in financial markets;

  • This broker processes about 500,000 trades within 1 ms;

  • Average order execution speed is 2.5 ms.

IFX Brokers is a broker for trading in the foreign exchange and CFD markets

The range of assets available for trading depends on the trading platform chosen by a trader. This broker offers MetaTrader 4 and MetaTrader 5, which are compatible with Windows, Mac OS, iPhone, iPad, and Android. There are 70 currency pairs and 12 commodities for MT4 and MT5, as well as 11 stock indices for MT4. Among them are the most traded indices of Australia, France, Germany, Spain, Japan, and Great Britain. However, Nasdaq and S&P 500 indices are only available in the Mini format. Also, in MT4 you can trade BTC/USD, XET/USD, XBN/USD, XLC/USD, and XRP/USD mixed pairs.

If a client completes the registration form correctly and attaches all the necessary documents, verification and approval of the user account takes up to 8 working hours from Monday to Friday. Funds are credited instantly (except for bank transfers), so you can start trading within 1-2 days of opening an account.

Useful services offered by IFX Brokers:

  • Economic calendar. This is a list of the most important events for traders and investors that can be used when conducting market analysis;

  • Trading hours. Here the working hours of different markets such as Forex, metals, soft goods, indices, and energies, and a technical break in trading are indicated;

  • Blog. It provides reviews of IFX Brokers as compared to other Forex brokers. With the help of convenient tables, you can compare regulation, the range of trading assets, fees, platform features, etc.;

  • FAQs. This block is for traders who are interested in trading and trading conditions of IFX Brokers.

Advantages:

1

No hidden trading or non-trading fees, as all information is provided on the IFX Brokers official website;

2

Copy trading, algorithmic trading, scalping, and hedging are allowed;

3

Swap-free Islamic accounts that allow Muslim traders to trade in accordance with Shariah requirements are available;

4

The company has partnered with Equinix to achieve high-speed execution with minimal delays;

5

IFX Brokers provides for executing cryptocurrency transactions and trading digital assets with leverage.

This broker's clients trade with floating spreads. This allows traders to effectively maneuver between tight spreads in a stable market situation and high potential profits in high volatility.

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